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Like Banking, General Insurance has the same challenge ahead, of meeting the changing expectations and needs of the digital customers. Our study confirms that insurances have taken this challenge seriously and are well underway in becoming “digital customer friendly”.
The overall performance is rated 5.25 and this is supported by convincing initiatives in Mobile (grade 6.75) and Digital Product Experience (6.5). This means their mobile apps and mobile websites meet the standards of state-of-the art technologies of today and are prepared to meet the expectations of the customers requiring information and signing policies online or on the go.
The areas of Digital Marketing (grade 4.25) and e-CRM (grade 4.75) will need more attention in the coming year. As far as Digital Marketing is concerned, insurances have an opportunity to improve on the display advertising and affiliate marketing fronts. Especially in display advertising, a more concrete focus is required on programmatic and on using immersive content to generate the wow-effect among online users. In order to better understand what the customers expect and what makes them switch to competitors, insurances need to invest in e-CRM initiatives which enable carriers to collect behavioral data and customer feedbacks and allows insurances to personalize their products and online presence.
Digital product experience